Aliko Dangote, chairman of the Dangote Group, has predicted that the naira will strengthen to N1,100 per dollar in 2026.
Dangote spoke on Tuesday during the launch of the National Industrial Policy 2025 by the federal government.
The naira has strengthened in recent weeks, appreciating to N1,335.95 per dollar at the official market and N1,380/$ at the parallel market on Tuesday.
Commenting on the development, the billionaire businessman said the country has the potential to generate large-scale consumption, industrial growth, and increased disposable incomes.
“I mean, today, if you look at it, Your Excellency, I believe that with the policies you have implemented in government, people have started seeing the results, and manufacturers are very, very happy,” Dangote said.
“Today, the dollar is N1,340. Mr Vice-President, I can assure you, with what I know, by blocking all these importations and so on, the naira this year could be as low as N1,100 if we are lucky.
“The only thing is maybe for the government to stop the naira from getting stronger so that they can keep collecting more naira.
“But it’s a catch-22 situation because if the naira gets stronger, it means that everything will become cheaper. Everything will go down in price because we are an import-based country, which we shouldn’t be.
“What we should do is manufacture all the things that we need.”
On February 12, Femi Otedola, chairman of First HoldCo, also expressed optimism that the naira will strengthen significantly and trade below N1,000 per dollar before the end of the year as domestic refining gains momentum.
